The estimated global mobile app revenue in 2017 as predicted by Gartner is $77 billion.
Growing faster than a beanstalk, the mobile app industry is undisputedly one of the most profitable. Small and midsize industries are quickly realizing the inevitability of going mobile. Thanks to hybrid monetization models like in-app ads and in-app purchases, the benefits of building a branded mobile app are pretty obvious today.
With the scale and size of revenue promised by the app industry, brands are looking for app building and marketing services from their agencies-on-record. There’s a significant shift in the marketing trend that makes mobile apps an integral part of the strategy.
Here are some unique and seemingly powerful strategies to help you increase revenue from your apps.
1- Customer-first strategies better implemented with mobile
If you are like most fast-paced businesses, consumer experience is your priority. The mobile explosion has had a significant impact on the way brands and online marketers look at the consumer journey. Anticipate your user’s micro-moments, and be ready with the right content. Examine all phases of the consumer journey to map moments when people want to find inspiration, learn about your products, make a quick purchase, or anything in between. Doing that gives your brand the chance to address that momentary need, help someone make an informed decision and increase loyalty. With an understanding of consumer journey online, from search to discovery to purchase intent, and incorporating the findings in your mobile communication strategy can get you all the wins.
2- Local strategies for a strong global presence
Businesses that are here to stay are glocal, or atleast have plans in that direction. Making an international debut will lead to many business-worthy opportunities, and a concrete mobile strategy is where you begin. A mobile application will help your business go global while giving local and personalized content to every set of audience you have. Think about having diverse language options for your app content, invest in a rightful app-store distribution plan, and scalable cloud-based services. Rapid mobile application development platforms, like Instappy, offer fantastic features to help you strengthen your international brand presence offering an edge over your competition in customer loyalty, retention and of course, revenue.
3- Improving orders with personalized content
The foremost perk of having a mobile app is personalization. With the help of a mobile app, you can communicate with your customers on a personal level, which in turns gives you a window to improve your sales and eventually your bottom line.
For example, by monitoring the purchasing frequency of your customers, you can get an insight into their behavior, what they approve of, and what they dislike. These insights give you enough meat for your marketing and advertisement strategies, helping you work on challenges like abandoned carts, customer drop-out rates and more.
4- On-the-mark content for repeat customers
With the help of sales-driven marketing strategies that give way to effective mobile communication, you can actually track, analyze and increase your customer-retention rate. You can ensure that your customers don’t miss out on deals, offers and fresh stock and have them coming back for more.
A branded mobile app has all the means to help you communicate with your audience with the right content at the right time. Think about it, a customer who had turned away with an ‘out of stock’ intimation gets a notification that the product on his wishlist is back-in-stock. This kind of right content pushed at the right time ensures repeat customers, order completion and most importantly, customer satisfaction.
5- Better timing for increased per-customer sales
A branded app defies the paradigm of time and place when it comes to sales-inquiry and final purchase.
Mobile helps you track individual customer-behavior, giving you strong insights on the most viewed, most searched and most engaging products/content/features of your brand. Features like related product suggestions and back-in-stock notifications, in-app reviews etc., help you get better per-customer sales. Monitor, analyze, iterate and test your user-experience, so that your app users spend more time on your app, eventually improving the sales figures for you.
6- More engagement, more business
Getting your customers on mobile can be a tad bit difficult, but retaining them is harder. Users are more likely to engage when they know what is in-store for them. In order to create more engagement, you need to implement benefit-based modules that talk about the takeaways from your app.
Services like beacon marketing, wi-fi marketing, access to premium content and creating buzz through push notifications lead to better user engagement on mobile. More engagement means more business, and more business will lead to business success on mobile.
When it comes to building recurring revenues on your app, you just can’t leave it to guesswork. With proven app monetization strategies and revenue models, businesses can ensure better engagement, trust and sales along with a consistent and integrated experience.
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